RBA meets today for monthly interest rate meeting

RBA meets today for monthly interest rate meeting

Australian economists say a cut in interest rates is likely to occur by the end of the year, but it is unlikely the cash rate will be cut today.

The Reserve Bank of Australia will meet for its monthly board meeting this afternoon, and the majority of economists surveyed believe interest rates will be kept steady at 3.5 per cent, the same level they’ve been at since June.

But 15 of 17 economists surveyed by AAP say the cash rate will be cut at least once by the end of 2012.

The CFMEU is calling on the Reserve Bank to throw a lifeline to the country’s struggling manufacturing industry, and cut interest rates today.

National Secretary of the CFMEU, Michael O’Connor, says the RBA needs to consider jobs.

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Libby Dreyer
Libby Dreyer 1729 posts

Libby has worked as a Senior Journalist at National Radio News since February 2011. She graduated with a Bachelor of Journalism from the University of Canberra in December 2010.

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